Pacific Equity Partners extends its offer for Energy Developments Ltd (ASX:ENE)

Company News

Private equity firm Pacific Equity Partners has extended its offer period for provider of renewable energy, Energy Developments Ltd (ASX:ENE) for a second time.

The offer to acquire all of Energy Developmentā€™s shares for $2.76 a share has now been extended to February 16 2010.

On February 1, Pacific Equity Partners increased its offer for the company to $2.76 a share declaring the offer price final.

As of February 1, Pacific Equity Partners had a relevant interest in Energy Developments of 67.15%.

However, Energy Developments largest shareholder, Investors Mutual, says it does not intend to accept the revised offer.

Energy Developments reported a profit for the 12 months to June 30, 2009.


Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?